Canadian drug firm buys Miramar warehouse for $50M

Apotex Corp. paid $165 per square foot for warehouse built by Atlanta-based IDI Gazeley

TRD MIAMI /
Feb.February 04, 2017 01:30 PM

15501 SW 29 Street in Miramar

Canada-based generic pharmaceutical company Apotex Corp. bought a warehouse in Miramar for $50 million.

An affiliate of Apotex, called Sherm Realty Corp., bought the 302,864-square-foot warehouse Jan. 31 for $165 per square foot.

The seller was Atlanta-based industrial property developer IDI Gazeley, which built the warehouse in 2014.

The warehouse is located on a 20-acre lot in a corporate park that IDI Gazeley developed at 15501 Southwest 29 Street in Miramar, northwest of Miramar Parkway and Interstate 75. The park’s tenants include Kellstrom Defense Industries Inc.

Colliers International reported that the pace of industrial-space absorption in Broward during last year’s fourth quarter was the fastest in a decade and supported “skyrocketing” lease rates.

Colliers reported that 37 percent of all Broward industrial space leased last year was leased in the fourth quarter, about 936,000 square feet. [Daily Business Review] Mike Seemuth


Related Articles

arrow_forward_ios
A rendering of the planned headquarters

Spirit Airlines plans to build $250M HQ campus in Dania Beach

IDI Logistics CEO Mark Saturno and 11600 Miramar Parkway (Credit: iStock)

IDI Logistics sells massive warehouse portfolio in Miramar for $117M

Marc Suarez, Director at Hunt Real Estate Capital and a rendering of Boardwalk 280

SH Communities scores HUD financing to build Miramar apartments

Juan Porro, Managing Director of FCI Residential

FCI Residential scores $54M construction loan for Miramar apartment project

New York firm closes 2nd sale of a Miramar office building this year, collects $45M

Apotex pharmaceuticals sells planned US HQ in Miramar at a loss following founder’s mysterious death

New York firm gets $19M for Miramar building leased to DeVry University

Bell Partners pays $62M for Miramar apartments

arrow_forward_ios